Energy Acquisitions in New Jersey

Affiliates of CriticalPoint Capital have completed the sale of United Engineers & Constructors Inc.'s Power Delivery business unit to United Grid Solutions, LLC, a subsidiary of Pike Corporation. The Power Generation Group remains with United; Pike will operate the Power Delivery Group to expand its transmission, substation and distribution capabilities across the U.S.

E Source, the Align Capital Partners-backed utility market intelligence and data-science platform, has acquired UMS Group, a utility management consulting firm. The add-on strengthens E Source’s consulting capabilities in areas such as wildfire risk reduction, asset management, renewable integration and advanced AI modeling for utilities.

Madison Energy Infrastructure (MEI) has acquired Pro-Tech Energy Solutions, a Moorestown, New Jersey-based turnkey energy services and EPC firm. The acquisition strengthens MEI's execution and delivery capabilities—adding Pro-Tech's EPC team and a pipeline of offsite and front-of-the-meter solar projects to MEI's clean energy platform.

EQT Infrastructure has agreed to acquire Covanta Holding Corporation, a Morristown, New Jersey–headquartered owner and operator of waste-to-energy facilities, for $20.25 per share in a transaction valued at $5.3 billion including assumed net debt. The deal, unanimously approved by Covanta’s board, will be financed by EQT Infrastructure V and is expected to close by year-end; EQT said it plans to invest in operational, digital and sustainability initiatives to grow Covanta's waste processing, energy production and metals recycling businesses.

Affiliates of American Securities LLC have acquired CS Energy, a New Jersey-based engineering, procurement and construction (EPC) firm specializing in utility-scale solar and energy storage projects. The equity interests were purchased from a fund managed by Ares Management's Infrastructure and Power strategy and The Conti Group as part of CS Energy’s next phase of growth under private-equity ownership.

ID Global Corporation (IDGC) completed a strategic investment to acquire a majority stake in Noveda Technologies, an IoT leader in cloud-based real-time energy and water management systems. IDGC said it will integrate Noveda's monitoring platform into its Smart Grid and Microgrid solutions to expand capability and deliver advanced energy and water management services worldwide.